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Catalyst Metals Ltd.
Summary
| Project: | Four Eagles | |
|---|---|---|
| Deposit: | Hayanmi | |
| Location: | Australia | |
| Commodities: | Gold | |
| Date: | 7/11/2017 | |
| Report Code: | JORC | |
| Report Type: | Exploration/Drilling Update | |
| Project Stage: | Pursuing Resources Definition | |
| Report details: | 11-7-2017: Catalyst Metals Ltd. announces an Exploration/Drilling Update report for its Hayanmi deposit at the Four Eagles project. JV - drilling results incl. 22m @ 31.1g/t Au from 116m. Catalyst Metals Limited (Catalyst or the Company) (ASX: CYL) is ple | |
| Resources: | x | |
| CP/QP: | [Overall Report]: Bruce Kay (Internal) | |
| ABSTRACT: | Catalyst Metals Limited (Catalyst or the Company) (ASX: CYL) is pleased to announce outstanding gold intersections from the Hayanmi Zone at the Four Eagles Gold Project. This announcement covers the assays received for the final 4 holes in the RC Blade/Hammer programme at the Hayanmi Zone. All of the assays quoted are from 25 gram samples using aqua regia digest and AAS but with a bulk cyanide leach assay on the total 2 kilogram sample still to be carried out on all anomalous samples to confirm the results. These two assay methods have tended to show good correlation in the past and indicate that the gold is finely divided and much less nuggetty than present at Bendigo. Catalyst retains a 50% interest in the Four Eagles Gold Project whilst Gold Exploration Victoria Pty Ltd (GEV) (a wholly owned subsidiary of Hancock Prospecting Pty Ltd) is earning up to a 50% interest from Providence Gold and Minerals Pty Ltd by spending $4.2 million on exploration. To date, GEV has already earned a 25% interest in the Four Eagles Gold Project by spending $2.1 million and is expected to complete the remaining expenditure during 2017. The Four Eagles Gold Project and the Tandarra Gold Project are situated about 15 kilometres apart along the Whitelaw Fault Corridor which is considered to be a major structural control of gold mineralisation north of Bendigo. Catalyst manages the entire Whitelaw Gold Belt and has interests in eight Exploration Licences which extend for 75 kilometres along the Whitelaw and Tandarra Faults north of Bendigo in Victoria (Figure 1). The Company has also lodged a large exploration licence application (Drummartin EL006507) over two potential regional faults to the east of Four Eagles, and north of the Fosterville Gold Mine. | |
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